Ola Electric seeks SEBI settlement over inflated 3,200-store claim; only 452 outlets verified

Ola Electric and founder Bhavish Aggarwal have filed a settlement application with SEBI after disclosures overstated its service footprint—claiming 3,200 stores against 452 actual outlets in Feb 2025. Move follows a ₹780 Cr QIP and Q4 FY26 loss of ₹500 Cr on revenue of ₹265 Cr (-57% YoY).

— Filed Wed, 17 Jun, 2026, 14:34 IST · Source Inc42 · Updated

Ola Electric and founder Bhavish Aggarwal filed a settlement application with SEBI over alleged misleading disclosures on sales, market share and 3,200-store service network claims (only 452 verified). Move follows ₹780 Cr QIP and narrowed Q4 losses.

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